Federated Hermes Inc. Acquires 5,651 Shares of Reinsurance Group of America, Incorporated $RGA

Federated Hermes Inc. raised its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 1.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 354,762 shares of the insurance provider’s stock after buying an additional 5,651 shares during the quarter. Federated Hermes Inc. owned 0.54% of Reinsurance Group of America worth $68,160,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC bought a new position in Reinsurance Group of America during the 2nd quarter valued at about $388,000. First Citizens Bank & Trust Co. increased its holdings in shares of Reinsurance Group of America by 276.8% during the second quarter. First Citizens Bank & Trust Co. now owns 6,146 shares of the insurance provider’s stock worth $1,219,000 after buying an additional 4,515 shares in the last quarter. Y Intercept Hong Kong Ltd raised its stake in shares of Reinsurance Group of America by 94.1% in the third quarter. Y Intercept Hong Kong Ltd now owns 18,504 shares of the insurance provider’s stock valued at $3,555,000 after acquiring an additional 8,971 shares during the last quarter. Zions Bancorporation National Association UT boosted its holdings in shares of Reinsurance Group of America by 97.2% in the 2nd quarter. Zions Bancorporation National Association UT now owns 8,177 shares of the insurance provider’s stock worth $1,622,000 after acquiring an additional 4,031 shares in the last quarter. Finally, Bahl & Gaynor Inc. grew its position in Reinsurance Group of America by 81.3% during the 2nd quarter. Bahl & Gaynor Inc. now owns 509,770 shares of the insurance provider’s stock worth $101,118,000 after acquiring an additional 228,538 shares during the last quarter. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Stock Down 0.0%

Shares of NYSE RGA opened at $196.59 on Thursday. Reinsurance Group of America, Incorporated has a 1 year low of $159.25 and a 1 year high of $232.97. The firm’s 50-day moving average is $198.06 and its 200-day moving average is $193.13. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $12.92 billion, a PE ratio of 15.12 and a beta of 0.55.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, October 30th. The insurance provider reported $6.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.80 by $0.57. Reinsurance Group of America had a net margin of 3.89% and a return on equity of 12.19%. The firm had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.02 billion. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $6.13 earnings per share. Equities analysts expect that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on RGA shares. Wells Fargo & Company lifted their price objective on Reinsurance Group of America from $237.00 to $238.00 and gave the company an “overweight” rating in a research report on Tuesday, January 13th. TD Cowen reaffirmed a “hold” rating on shares of Reinsurance Group of America in a report on Wednesday. Barclays set a $237.00 price objective on shares of Reinsurance Group of America in a report on Thursday, January 8th. Keefe, Bruyette & Woods dropped their target price on shares of Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Finally, Piper Sandler increased their price target on shares of Reinsurance Group of America from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Tuesday, December 23rd. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $238.67.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.